Division 1 Creditors’ meetings
Division 2 Statements of affairs
Division 3 Trading accounts, etc., of bankrupt’s business
Division 4 Settlement of list of debtors to estate
Division 5 Monthly contribution and target contribution
Division 6 Procedure for proving of debts and quantification of claims in proofs
Division 7 Secured creditors
Division 8 Taking accounts and sale of mortgaged property
Division 9 Admission and rejection of proofs
Division 10 Acceptance of composition or scheme
Division 11 Disclaimers
Division 12 Realisation of bankrupt’s property
Division 13 Special manager
Division 14 Distribution of dividends
| Division 1 — Creditors’ meetings |
| Meetings summoned by trustee of bankrupt’s estate |
| Meetings summoned by Court |
17.—(1) Where the Court orders a meeting of creditors of a bankrupt to be summoned under section 330(2) of the Act, the person who applied for the order of the Court must send a sealed copy of the order in Form BR‑2 to the trustee of the bankrupt’s estate.
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| Creditors’ committees in bankruptcy of partnership |
| 18. In the bankruptcy of a partnership, each set of separate creditors may appoint its own creditors’ committee, and a committee appointed by the joint creditors is deemed to have been appointed also by any set of separate creditors who do not appoint a separate committee. |
| Non-receipt of notice by creditor |
| 19. Unless the Court otherwise orders, the proceedings at a meeting of creditors are valid even if some creditors have not received the notice summoning the meeting. |
| Chairperson of meeting |
20. Unless the Court otherwise orders, the chairperson of a meeting of a bankrupt’s creditors is —
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| Costs of creditors’ meeting |
21.—(1) Unless the Court otherwise orders —
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| Orders or directions for meetings |
22. The Court may, either on its own motion or on the application of a bankrupt, a creditor or the chairperson of a meeting of the bankrupt’s creditors summoned under section 330 of the Act, make or give any of the following orders or directions in relation to the meeting:
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| Quorum |
23.—(1) Unless the quorum is formed at a meeting of creditors, the meeting is competent to act only for the following purposes:
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| Adjournment |
24.—(1) The chairperson of a meeting of creditors may in his or her discretion adjourn the meeting to a time and place that the chairperson thinks is appropriate —
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| Proxies |
25.—(1) A creditor may vote either in person or by proxy at a meeting of creditors.
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| Where creditor is blind or incapable of writing |
26. The proxy of a creditor who is blind or incapable of writing may be accepted for a meeting of creditors if —
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| Use and retention of proxies |
27.—(1) A proxy of a creditor may not be used at a meeting of creditors unless the proxy is deposited with the chairperson of the meeting not later than 4 p.m. on the day before the meeting or adjourned meeting at which it is to be used.
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| Proxy-holder with financial interest |
28.—(1) No person acting under either a general or a special proxy may vote in favour of any resolution at any meeting of creditors under this Division if the resolution would directly or indirectly place the person or the person’s partner or employer in a position to receive any remuneration out of the estate of the bankrupt otherwise than as a creditor rateably with the other creditors of the bankrupt.
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| Entitlement to vote |
29.—(1) A person is not entitled to vote as a creditor at any meeting of creditors unless —
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| Admission and rejection of proofs of debt |
30.—(1) The chairperson of a meeting of creditors has the power to admit or reject a proof of debt (or any part of the proof) for the purpose of voting at the meeting, but the chairperson’s decision is subject to appeal to the Court.
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| Record of proceedings |
31.—(1) The chairperson at any creditors’ meeting must cause minutes of the proceedings at the meeting, signed by the chairperson, to be retained by the chairperson as part of the records of the bankruptcy.
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